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July 07, 2005
Another Internet casualty from 1999 shows signs of life
The folks over at alarm:clock have put together a great collection of features and profiles of VC-backed companies. One of the companies recently profiled is New York-based BeliefNet, which was founded in 1999 by a veteran of US News & World Report and Newsweek. Anyway, after a long period when content companies were dead on arrival, the company raised $7 million from Softbank's Boston office last month. This was a company that had filed for Chapter 11 bankruptcy after blowing through $25 million in VC money! Alarm:Clock calls BeliefNet the "East Coast version of Salon.com - a heavily funded startup that died and has been resurrected."
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